UK Top 50 Firm Furloughs 170 Staff
The firm has also reduced partner payouts, delayed bonuses and halted pay-review processes.
April 16, 2020 at 11:33 AM
2 minute read
U.K. top 50 law firm BLM has furloughed around 170 members of staff as part of measures laid out by the firm in response to the coronavirus pandemic.
Furloughed staff include employees whose roles "do not lend themselves to homeworking" as well as additional staff "working in areas where we are temporarily seeing a significant decline in work", according to a spokesperson for BLM.
According to its website, BLM employs around 1,500 people including 800 lawyers across 13 offices.
The firm has also reduced its monthly drawings paid to equity partners with a view to investing the money back into the business, the spokesperson added.
Other measures include freezing pay review processes and delaying bonus payments across the firm.
In a statement, a BLM spokesperson commented: "We are living in extraordinary times. Like every other business, it is important that we take certain measures now to protect our people and the ongoing stability of our firm.
"Over the last two weeks, our Executive Board has met daily to review the impact of the coronavirus pandemic on our colleagues, clients and business. This has helped us to understand what the impact could be for our firm."
BLM is the latest firm to announce wide-ranging financial measures to combat COVID-19 business disruption.
Earlier in April, a number of firms including Hogan Lovells, DLA Piper, Ashurst, Weightmans, Burges Salmon and Taylor Wessing furloughed staff.
Read more:
CC Offers £400 Remote Working Allowance as Deloitte Legal Proposes Reduced Hours
A Firm-By-Firm Guide on Pandemic Measures
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